Traders can bid for up to 2,000 MT of rice: Govt

Amid rising rice prices, the Food Corporation of India (FCI) Friday doubled the maximum bidding quantity under the Open Market Sale Scheme (OMSS) to 2,000 tonnes per bidder and reduced the minimum bid quantity to 1 tonne from 10 tonnes.

The move is meant to encourage more participation of rice traders and processors under the OMSS.

“The rice offered under the Central pool is of excellent quality, and traders are invited to actively engage in e-auctions to ensure easy and affordable availability for consumers in the market,” the Union Food Ministry said in a statement Friday.

The ministry said that of the 25 lakh metric tonnes (LMT) of rice allocated by the government under the OMSS, 1.19 LMT has so far been sold.

As per data  avaliable on the Department of Consumer Affairs’ website, the all-India daily average retail price of rice was Rs 43.29 per kg against Rs 37.87 per kg a year ago.

This article has been republished from The Indian Express.